For students aspiring to study in the United States, gaining admission to a prestigious college can be an uphill battle. With high tuition fees and rising costs of living, the financial burden can deter many from pursuing their desired degree programs.
However, the payoff can be substantial if the institution offers good career prospects and substantial financial aid. Forbes recently published a list of colleges that not only minimize student debt, but also provide high return on investment (ROI) through lucrative career opportunities after graduation.
Top 10 US Colleges Offering the Best ROI and Low Student Debt
From MIT to City College of New York, these institutions excel at sending graduates into the workforce with little debt and impressive earning potential. Below are the top 10 schools from this list.
Princeton University
Princeton University continues to rank first not only in the top 500, but also in ROI for its alumni. This prestigious Ivy League university in New Jersey offers nearly 40 different majors, with computer science, economics, and public policy being the most popular choices. Many Princeton graduates find successful careers in finance and technology, with business, consulting, and hedge funds also common career paths. Princeton graduates typically earn an average salary of nearly $200,000 a decade after graduation. Thanks to its large endowment of $34 billion, the university offers generous financial aid packages, allowing most students to graduate debt-free or with minimal student loans.
Stanford University
Stanford University, an Ivy-plus institution located in California, is known for its strong emphasis on STEM programs and deep ties to Silicon Valley. Many Stanford graduates go on to secure high-paying jobs in technology and startups. Within a few years of completing their degrees, the average salary of a Stanford graduate exceeds $100,000 per year. Federal loans are rare among its students, with only about 5 percent taking out loans and the average loan amount being $9,851.
Swear City College of New York
The City College of New York (CCNY), part of the City University of New York (CUNY) system, is one of the most affordable institutions on this list. Although it’s no longer free, New Yorkers pay just $6,930 in annual tuition. Popular majors include psychology, biology, and computer science. According to Forbes, CCNY graduates recoup the net cost of their education in just six months, making it one of the best schools for low student debt and quick financial recovery.
California Institute of Technology
At Caltech, graduates earn an average salary of $132,140 six years after enrollment. With a strong focus on science and technology, Caltech boasts a price-earnings premium of 0.73, meaning students typically recoup the cost of their education in about nine months. Located in Pasadena, California, this institution is the best choice for those seeking a career in technology and innovation.
CUNY Hunter College
CUNY Hunter College, located on Manhattan’s Upper East Side, offers more than 100 undergraduate and graduate programs across its five schools. Only 6.5% of college students take out loans, with an average loan balance of $8,812. Hunter College graduates typically recoup their education costs in about six months, making it one of the most financially efficient schools in the country.
Massachusetts Institute of Technology
MIT graduates enjoy high earning potential, with an average salary of $105,000 six years after graduation. The Cambridge-based university, known for its rigorous science and technology programs, sees only 4 percent of students who take out federal loans with an average debt of $12,462. Additionally, 95 percent of borrowers manage to start paying off their loan principal within five years after graduation, thanks to the impressive salaries MIT graduates command in fields such as computer science, mechanical engineering, and mathematics.
CUNY Brooklyn College
Brooklyn College, another standout in the CUNY system, offers an affordable path to a solid career. Only 7% of college students take out federal loans, with the average loan amount being $9,218. Students typically recoup their tuition in just over six months. With an acceptance rate of 55%, Brooklyn College is accessible to many students, and popular majors include psychology, accounting, and business administration.
CUNY York College
Located in Jamaica, Queens, CUNY York College offers its students a selection of 60 undergraduate majors, including nursing, social work, and health services. Only 5 percent of students take out federal loans, with an average loan balance of just $7,500 — one of the lowest among schools featured by Forbes. York College graduates typically take a little over a year to recover their net costs.
CUNY John Jay College of Criminal Justice
Specializing in criminal justice and forensics, the CUNY John Jay College of Criminal Justice prepares graduates for careers in law enforcement, law, and public policy. About 7% of college students take out loans, with the average loan amount being $9,250. Graduates typically recoup their costs in about 10 months, with low-income students taking just six months to do so, reflecting the school’s commitment to providing an affordable and valuable education.
Harvard University
With its massive $50 billion endowment, Harvard University offers generous financial aid packages, meaning less than 3 percent of students take out federal loans. The school aid program ensures that all students who demonstrate financial need receive aid. After graduation, Harvard graduates typically take a little more than a year to recoup the net cost of their education, with low-income students managing to do so in as little as six months. Known for producing leaders in a variety of sectors, Harvard remains one of the top choices for students looking for a significant return on their education investment.
